Monday, July 15, 2024

Hyderabad Real Estate Picks Up Pushing Covid Pandemic Aside

  • Increase in Sales during Third Quarter, says Jones Lasalle (JLL) Report
  • Residential Apartments, Villas sales Up by 5% in July – September

(E. Aswani Kumar)

Hyderabad: Major sector which suffered a lot due to Covid pandemic and the subsequent lockdown was Real Estate which is now picking up in Hyderabad compared to disastrous first and second quarter of the year 2020.  As per the latest report of JLL, Hyderabad stood second in India in Real estate sector with Chennai in first place.

Unsold inventories like apartments and villas in Hyderabad raised by 5% increase in sales with NRIs showing interest to invest  leaving aside other Telugu state AP which has been tattering under the capital row.This gave boost to launch new properties in city with almost 40% branded builders starting their projects in a positive mode.

Banks are coming forward to grant Home loans under different schemes with lesser percent of interest, and investors feel, according to Realtors, that this is the right time to buy guessing that the prices would go up once the pandemic comes down. Telangana government on its part  started works on  flyovers, roads to improve the infrastructure during lockdown thus encouraging the market.First half of the year saw a slump  with nearly 50% drop in the sales, but the increase in 3rd quarter certainly gave positive signals to the market which will flow further in high trends. Hyderabad, which became a top destination for real estate investment with well developed Infrastructure with property values still lower than the other Metropolitan cities like Mumbai and Bengaluru appears destined to see a boom in the market in 2021.


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